Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

*

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 01333) ANNOUNCEMENT OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2016 GROUP FINANCIAL HIGHLIGHTS Six months ended 30 June 2016 2015

RMB'000 RMB'000

(unaudited) (unaudited)

Revenue

Gross profit

EBITDA (Note 1)

Profit attributable to equity shareholders

Adjusted profit attributable to equity shareholders (Note 2)

Earnings per share (RMB)

Adjusted earnings per share (RMB) (Note 3)

Interim dividend per share (RMB)

7,675,297 2,819,856 2,543,667 1,369,790 1,505,218 0.19 0.21 0.09

7,892,402

2,541,467

2,402,164

1,498,059

1,498,059

0.21

0.21

0.09

At At 30 June 31 December 2016 2015

RMB'000 RMB'000

(unaudited) (audited)

Bank balances and cash (Note 4)

Net assets Total assets

19,911,588 27,087,947 79,913,807

13,495,202

25,990,998

71,400,726

* For identification purposes only

Notes:

1. EBITDA = profit before taxation + finance costs + amortisation of prepaid lease payments + depreciation of property, plant and equipment

2.

Adjusted profit attributable to equity shareholders is profit attributable to equity shareholders net of

the effect of non-cash expenses arising from the recognition of share options which were granted on 6 January 2016 at fair value by the Group and the stamp duty incurred in connection with the internal reorganisation in relation to the Proposed Spin-off and listing of Liaoning Zhongwang, a wholly- owned subsidiary of the Company.

3.

Adjusted earnings per share is calculated based on the adjusted profit attributable to equity

shareholders for each of the six-month periods ended 30 June 2016 and 30 June 2015 and on the weighted average number of ordinary shares, convertible preference shares and share options for the respective period.

4.

Bank balances and cash = cash and cash equivalents + short-term deposits + pledged bank deposits

INTERIM RESULTS

The board (the "Board") of directors (the "Directors") of China Zhongwang Holdings Limited (the "Company") is pleased to announce the unaudited consolidated interim results of the Company and its subsidiaries (collectively, the "Group") for the six-month period ended 30 June 2016 (the "Period under Review"), together with the comparative figures for the six- month period ended 30 June 2015, as follows:

Consolidated Statement of Comprehensive Income

For the six months ended 30 June 2016 (Expressed in Renminbi ("RMB"))

Note

Six months ended 30 June 2016 2015

RMB'000 RMB'000

(unaudited) (unaudited)

Revenue

4

7,675,297 7,892,402

Cost of sales

(4,855,441) (5,350,935)

Gross profit

2,819,856 2,541,467

Investment income

139,627 148,786

Other income

5

117,577 143,678

Selling and distribution costs

(71,526) (64,315)

Administrative and other operating expenses

(876,686) (675,681)

Share of profits less losses of associates

41,008 1,132

Finance costs

6(a)

(440,345) (281,344)

Profit before taxation

6

1,729,511 1,813,723

Income tax

7

(359,721) (315,664)

Profit for the period attributable to equity

shareholders of the Company 1,369,790 1,498,059 Other comprehensive income

Items that may be reclassified subsequently to profit or loss:

  • Exchange differences arising on translation of financial statements of overseas

    subsidiaries (19,370) (1,958)

  • Cash flow hedges: net movement

in the hedging reserve 414 (3,201)

Total comprehensive income for the period

attributable to equity shareholders of the Company 1,350,834 1,492,900

Earnings per share

Basic (RMB) 8 0.19 0.21

Diluted (RMB) 8 0.19 0.21

Consolidated Statement of Financial Position

At 30 June 2016

(Expressed in RMB)

Note

At 30 June

2016

RMB'000

(unaudited)

At 31 December

2015

RMB'000

(audited)

Non-current assets

Property, plant and equipment

36,313,853

31,172,208

Prepaid lease payments

10

5,883,112

5,909,731

Interest in associates

Deposits for acquisition of property, plant and equipment and prepaid lease

11

2,823,338

4,373,972

2,707,564

6,343,590

Pledged bank deposits

15

-

480,307

Deferred tax assets

87,638

77,322

49,481,913

46,690,722

Current assets Inventories

12

3,358,623

3,326,401

Trade and bills receivables

13

1,670,927

1,433,664

Other receivables, deposits and prepayments

14

4,385,099

5,455,037

Available-for-sale financial assets

16

976,417

1,351,418

Prepaid lease payments

10

129,240

128,589

Pledged bank deposits

15

2,503,646

2,788,873

Short-term deposits

17

32,387

25,919

Cash and cash equivalents

17

17,375,555

10,200,103

30,431,894

24,710,004

Current liabilities Trade payables

18

737,770

2,405,803

Bills payable

19

6,741,309

2,475,856

Other payables and accrued charges

3,107,344

2,908,927

Current tax liabilities

249,697

183,344

Debentures

600,000

2,500,000

Bank and other loans

11,628,879

12,432,298

Derivative financial instruments

797

15,403

Dividends payable

9(ii)

355,197

-

23,420,993

22,921,631

Net current assets

7,010,901

1,788,373

Total assets less current liabilities

56,492,814

48,479,095

China Zhongwang Holdings Ltd. published this content on 25 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 August 2016 04:19:01 UTC.

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